This study tests for the existence of currency substitution and attempts to gauge its magnitude in Nigeria. The analysis was based on a multi-perspective unrestricted portfolio balance model. The stock of foreign currency deposits in Nigeria and the ratio of deposits denominated in foreign...

The article uses a translog cost function to examine the substitution relations among capital, labour and imports. The results show that capital has a substitute relation with domestic labour and import. However, labour and import have complementary relationship. The implication of this finding...

The paper investigates Wagner’s law, the nexus between government spending and national income in Nigeria over the period 1961-2009 in multivariate framework incorporating population size variable. The results provide support for Wagner’s law in Nigeria. Moreover, there is a...